Eight countries and the European Union have signed an Additional Protocol to the Warsaw Convention designed to strengthen cross-border freezing, confiscation and management of criminal assets, including crypto-assets.
The European Union, Georgia, Greece, Hungary, Luxembourg, Monaco, Montenegro, San Marino and the United Kingdom signed the protocol on October 14. The European Commission says the text expands police and judicial cooperation and strengthens anti-money-laundering measures. Migration and Home Affairs
The protocol is not yet in force. The EU still needs the Council to conclude the protocol and the underlying Warsaw Convention, with European Parliament consent also required. National ratification requirements will determine when obligations become effective for individual signatories.
The Council of Europe describes the Warsaw Convention as the first comprehensive international treaty covering both money-laundering prevention and control, terrorist financing, freezing, seizure and confiscation. The Commission says only about 1% of criminal assets are currently recovered in the EU.
TOKEN RECON ASSESSMENT
For crypto businesses, the immediate change is diplomatic rather than operational. Signature creates a pathway to faster cross-border asset tracing and recovery, but it does not itself activate new seizure powers. The consequential milestones are ratification, entry into force, implementing laws and the procedures authorities adopt for custody and disposition of seized digital assets.
Sources
European Commission: EU signs Additional Protocol
Council of Europe: Warsaw Convention and Additional Protocol
